Local Investor Acquires The Pines Apartments Multifamily Complex In Palm Desert For $2.75M

The Pines Apartments is a multifamily complex comprising 16 units located at 73170 Tumbleweed Lane, Palm Desert. The property has a total square footage of 9,376 and was sold for $2,750,000, which translates to a price per unit of $171,875 and a price per square foot of $293.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $2,750,000
• Units: 16
• Square Footage: 9,376
• Price Per Unit: $171,875
• Price Per Square Foot: $293
• Address: 73170 Tumbleweed Lane
• Market: Palm Desert

James V. Carter and Angelo La Bruna of Apartment Realty Group, Inc represented both parties in the transaction, facilitating the deal to a local investor adjacent to the El Paseo Shopping District in Palm Desert.